Business
American Vanadium Increases Size of Financing By Up To $2 Million
(via Thenewswire.ca) October 22, 2013 - AMERICAN VANADIUM CORP . ("American Vanadium" ...
About this update from Monitor Ventures Inc
[{"type":"text","content":"American Vanadium Increases Size of Financing By Up To $2 Million(via Thenewswire.ca)\n\n \nOctober 22, 2013- AMERICAN VANADIUM CORP. (\"American Vanadium\" or the \"Company\") (TSX.V: AVC) (OTCQX: AVCVF). Further to its press release of September 16, 2013, American Vanadium has increased its previously announced non-brokered private placement (the \"Private Placement\") by up to $2,000,000 at the price of CDN$0.50 per unit (a \"Unit\"). Each Unit consists of one common share in the capital of the Company (a \"Common Share\"), one half of a warrant exercisable at $0.60 (\"$0.60 Warrant\") and one half of a warrant exercisable at $0.80 (\"$0.80 Warrant\"). Each whole $0.60 Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at a price of $0.60 for a period of 6 months from issuance. Each whole $0.80 Warrant will entitle the holder thereof to purchase one Warrant Share at a price of $0.80 for a period of 2 years from issuance. \n\n \n \nThe Company will pay a finder's fee in cash of up to 6% of the gross proceeds from the total number of Units sold and Warrants of up to 6% of the number of Units sold.\n\n \n \nThe net proceeds of the Private Placement will be used for sales and marketing activities of the CellCube vanadium redox flow batteries, mine design, environmental permitting and general working capital.\n\n \n \nClosing of the Private Placement is subject to the receipt of all applicable regulatory approvals. \n\n \n \nAll securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date hereof in accordance with applicable securities laws.\n\n \n \nThe securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States.\n\n\n \nAbout American Vanadium Corp.\n\n\n \nAmerican Vanadium is an integrated energy storage company that markets and sells GILDEMEISTER'S CellCube vanadium redox flow batteries in North America. American Vanadium is developing the only vanadium mine in t...